Monday, September 22, 2008


We must be living in really interesting times for me to quote, with a measure of approval, an op-ed by William Kristol. In today's NY Times he says he has doubts about the wisdom of the Wall Street bailout plan, and wonders:
[I]s the administration’s proposal the right way to do this? It would enable the Treasury, without Congressionally approved guidelines as to pricing or procedure, to purchase hundreds of billions of dollars of financial assets, and hire private firms to manage and sell them, presumably at their discretion There are no provisions for — or even promises of — disclosure, accountability or transparency. Surely Congress can at least ask some hard questions about such an open-ended commitment.

Coming from a guy who supported giving the administration blank check after blank check for the disastrously managed war in Iraq, this is really some call to caution.

As the saying goes, which is much used in Texas Hold'em when a bad player wins an incredibly badly played hand: "Even a blind squirrel finds an acorn from time to time." Well done, William Kristol!

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